Wesizwe Pt sees “huge downsizing” in sector

[miningmx.com] – WESIZWE Platinum chief operating officer, Paul Smith, told BDLive that the platinum sector was due for “huge downsizing” and that the company may participate in its restructuring.

“Of course, we are looking and we’ll look very hard at what’s out there. We’re watching very closely what’s happening,” Smith told the newspaper.

Asked if Wesizwe could play a role in the restructuring, he said: “Yes, we would certainly participate, but it’s got to make good sense, it’s got to be a value proposition and it’s got to be wholly supported by our strategic shareholders”.

Wesizwe Platinum is building the R10.7bn Bakubung platinum mine which will produce about 420,000 ounces/year of platinum group metals.

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